Currently released so far... 97115 / 251,287
Articles
Brazil
Sri Lanka
United Kingdom
Sweden
00. Editorial
United States
Latin America
Egypt
Jordan
Yemen
Thailand
Browse latest releases
2010/12/01
2010/12/02
2010/12/03
2010/12/04
2010/12/05
2010/12/06
2010/12/07
2010/12/08
2010/12/09
2010/12/10
2010/12/11
2010/12/12
2010/12/13
2010/12/14
2010/12/15
2010/12/16
2010/12/17
2010/12/18
2010/12/19
2010/12/20
2010/12/21
2010/12/22
2010/12/23
2010/12/25
2010/12/26
2010/12/27
2010/12/28
2010/12/29
2010/12/30
2011/01/01
2011/01/02
2011/01/04
2011/01/05
2011/01/07
2011/01/09
2011/01/11
2011/01/12
2011/01/13
2011/01/14
2011/01/15
2011/01/16
2011/01/17
2011/01/18
2011/01/19
2011/01/20
2011/01/21
2011/01/22
2011/01/23
2011/01/24
2011/01/25
2011/01/26
2011/01/27
2011/01/28
2011/01/29
2011/01/30
2011/01/31
2011/02/01
2011/02/02
2011/02/03
2011/02/04
2011/02/05
2011/02/06
2011/02/07
2011/02/08
2011/02/09
2011/02/10
2011/02/11
2011/02/12
2011/02/13
2011/02/14
2011/02/15
2011/02/16
2011/02/17
2011/02/18
2011/02/19
2011/02/20
2011/02/21
2011/02/22
2011/02/23
2011/02/24
2011/02/25
2011/02/26
2011/02/27
2011/02/28
2011/03/01
2011/03/02
2011/03/03
2011/03/04
2011/03/05
2011/03/06
2011/03/07
2011/03/08
2011/03/09
2011/03/10
2011/03/11
2011/03/13
2011/03/14
2011/03/15
2011/03/16
2011/03/17
2011/03/18
2011/03/19
2011/03/20
2011/03/21
2011/03/22
2011/03/23
2011/03/24
2011/03/25
2011/03/26
2011/03/27
2011/03/28
2011/03/29
2011/03/30
2011/03/31
2011/04/01
2011/04/02
2011/04/03
2011/04/04
2011/04/05
2011/04/06
2011/04/07
2011/04/08
2011/04/09
2011/04/10
2011/04/11
2011/04/12
2011/04/13
2011/04/14
2011/04/15
2011/04/16
2011/04/17
2011/04/18
2011/04/19
2011/04/20
2011/04/21
2011/04/22
2011/04/23
2011/04/24
2011/04/25
2011/04/26
2011/04/27
2011/04/28
2011/04/29
2011/04/30
2011/05/01
2011/05/02
2011/05/03
2011/05/04
2011/05/05
2011/05/06
2011/05/07
2011/05/09
2011/05/10
2011/05/11
2011/05/12
2011/05/13
2011/05/14
2011/05/15
2011/05/16
2011/05/17
2011/05/18
2011/05/19
2011/05/20
2011/05/21
2011/05/22
2011/05/23
2011/05/24
2011/05/25
2011/05/26
2011/05/27
2011/05/28
2011/05/29
2011/05/30
2011/05/31
2011/06/01
2011/06/02
2011/06/03
2011/06/04
2011/06/05
2011/06/06
2011/06/07
2011/06/08
2011/06/09
2011/06/10
2011/06/11
2011/06/12
2011/06/13
2011/06/14
2011/06/15
2011/06/16
2011/06/17
2011/06/18
2011/06/19
2011/06/20
2011/06/21
2011/06/22
2011/06/23
2011/06/24
2011/06/25
2011/06/26
2011/06/27
2011/06/28
2011/06/29
2011/06/30
2011/07/01
2011/07/02
2011/07/04
2011/07/05
2011/07/06
2011/07/07
2011/07/08
2011/07/10
2011/07/11
2011/07/12
2011/07/13
2011/07/14
2011/07/15
2011/07/16
2011/07/17
2011/07/18
2011/07/19
2011/07/20
2011/07/21
2011/07/22
2011/07/23
2011/07/25
2011/07/27
2011/07/28
2011/07/29
2011/07/31
2011/08/01
2011/08/02
2011/08/03
2011/08/05
2011/08/06
2011/08/07
2011/08/08
2011/08/10
2011/08/11
2011/08/12
2011/08/13
2011/08/15
2011/08/16
2011/08/17
2011/08/19
2011/08/21
2011/08/22
2011/08/23
2011/08/24
2011/08/25
Browse by creation date
Browse by origin
Embassy Athens
Embassy Asuncion
Embassy Astana
Embassy Asmara
Embassy Ashgabat
Embassy Apia
Embassy Antananarivo
Embassy Ankara
Embassy Amman
Embassy Algiers
Embassy Addis Ababa
Embassy Accra
Embassy Abuja
Embassy Abu Dhabi
Embassy Abidjan
Consulate Auckland
Consulate Amsterdam
Consulate Alexandria
Consulate Adana
American Institute Taiwan, Taipei
Embasy Bonn
Embassy Bujumbura
Embassy Buenos Aires
Embassy Budapest
Embassy Bucharest
Embassy Brussels
Embassy Bridgetown
Embassy Brazzaville
Embassy Bratislava
Embassy Brasilia
Embassy Bogota
Embassy Bishkek
Embassy Bern
Embassy Berlin
Embassy Belmopan
Embassy Belgrade
Embassy Beirut
Embassy Beijing
Embassy Banjul
Embassy Bangui
Embassy Bangkok
Embassy Bandar Seri Begawan
Embassy Bamako
Embassy Baku
Embassy Baghdad
Consulate Belfast
Consulate Barcelona
Embassy Cotonou
Embassy Copenhagen
Embassy Conakry
Embassy Colombo
Embassy Chisinau
Embassy Caracas
Embassy Canberra
Embassy Cairo
Consulate Curacao
Consulate Ciudad Juarez
Consulate Chiang Mai
Consulate Chennai
Consulate Chengdu
Consulate Casablanca
Consulate Cape Town
Consulate Calgary
Embassy Dushanbe
Embassy Dublin
Embassy Doha
Embassy Djibouti
Embassy Dili
Embassy Dhaka
Embassy Dar Es Salaam
Embassy Damascus
Embassy Dakar
DIR FSINFATC
Consulate Dusseldorf
Consulate Durban
Consulate Dubai
Consulate Dhahran
Embassy Guatemala
Embassy Grenada
Embassy Georgetown
Embassy Gaborone
Consulate Guayaquil
Consulate Guangzhou
Consulate Guadalajara
Embassy Helsinki
Embassy Harare
Embassy Hanoi
Consulate Hong Kong
Consulate Ho Chi Minh City
Consulate Hermosillo
Consulate Hamilton
Consulate Hamburg
Consulate Halifax
Embassy Kyiv
Embassy Kuwait
Embassy Kuala Lumpur
Embassy Kolonia
Embassy Kinshasa
Embassy Kingston
Embassy Kigali
Embassy Khartoum
Embassy Kathmandu
Embassy Kampala
Embassy Kabul
Consulate Krakow
Consulate Kolkata
Consulate Karachi
Consulate Kaduna
Embassy Luxembourg
Embassy Lusaka
Embassy Luanda
Embassy London
Embassy Lome
Embassy Ljubljana
Embassy Lisbon
Embassy Lima
Embassy Lilongwe
Embassy Libreville
Embassy La Paz
Consulate Leipzig
Consulate Lahore
Consulate Lagos
Mission USOSCE
Mission USNATO
Mission UNESCO
Mission Geneva
Embassy Muscat
Embassy Moscow
Embassy Montevideo
Embassy Monrovia
Embassy Mogadishu
Embassy Minsk
Embassy Mexico
Embassy Mbabane
Embassy Maseru
Embassy Maputo
Embassy Manila
Embassy Manama
Embassy Managua
Embassy Malabo
Embassy Madrid
Consulate Munich
Consulate Mumbai
Consulate Montreal
Consulate Monterrey
Consulate Milan
Consulate Merida
Consulate Melbourne
Consulate Matamoros
Consulate Marseille
Embassy Nouakchott
Embassy Nicosia
Embassy Niamey
Embassy New Delhi
Embassy Ndjamena
Embassy Nassau
Embassy Nairobi
Consulate Nuevo Laredo
Consulate Naples
Consulate Naha
Consulate Nagoya
Embassy Pristina
Embassy Pretoria
Embassy Praia
Embassy Prague
Embassy Port Of Spain
Embassy Port Moresby
Embassy Port Louis
Embassy Port Au Prince
Embassy Podgorica
Embassy Phnom Penh
Embassy Paris
Embassy Paramaribo
Embassy Panama
Consulate Ponta Delgada
Consulate Peshawar
REO Mosul
REO Kirkuk
REO Hillah
REO Basrah
Embassy Rome
Embassy Riyadh
Embassy Riga
Embassy Reykjavik
Embassy Rangoon
Embassy Rabat
Consulate Rio De Janeiro
Consulate Recife
Secretary of State
Embassy Suva
Embassy Stockholm
Embassy Sofia
Embassy Skopje
Embassy Singapore
Embassy Seoul
Embassy Sarajevo
Embassy Santo Domingo
Embassy Santiago
Embassy Sanaa
Embassy San Salvador
Embassy San Jose
Consulate Surabaya
Consulate Strasbourg
Consulate St Petersburg
Consulate Shenyang
Consulate Shanghai
Consulate Sapporo
Consulate Sao Paulo
Embassy Tunis
Embassy Tripoli
Embassy Tokyo
Embassy Tirana
Embassy The Hague
Embassy Tel Aviv
Embassy Tehran
Embassy Tegucigalpa
Embassy Tbilisi
Embassy Tashkent
Embassy Tallinn
Consulate Toronto
Consulate Tijuana
Consulate Thessaloniki
USUN New York
USMISSION USTR GENEVA
USEU Brussels
US Office Almaty
US Mission Geneva
US Mission CD Geneva
US Interests Section Havana
US Delegation, Secretary
US Delegation FEST TWO
UNVIE
UN Rome
Embassy Ulaanbaatar
Embassy Vilnius
Embassy Vientiane
Embassy Vienna
Embassy Vatican
Embassy Valletta
Consulate Vladivostok
Consulate Vancouver
Browse by tag
AF
ADANA
ASEC
AFIN
AMGT
AE
AORC
AID
AR
AO
AU
ASEAN
AGOA
AFGHANISTAN
AFFAIRS
AMED
APER
ASECARP
APEC
AEMR
AS
AA
ANET
AFLU
ABLD
AL
ASUP
AJ
APECO
AMER
ABUD
AODE
AM
AFSN
AESC
AND
AG
ALOW
AROC
AVIANFLU
ATRN
ACOA
AEGR
AMGMT
AADP
AFSI
ACABQ
APRM
AZ
AIDS
ASE
AGAO
ADCO
ABDALLAH
ARF
AIDAC
ACOTA
ASCH
AC
ASEG
AGR
ACS
AMCHAMS
AN
AMIA
ASIG
ADPM
ADB
ANARCHISTS
ALOWAR
ARM
AUC
AINF
AINT
AORG
AY
AVIAN
AMEDCASCKFLO
AK
ARSO
ARABBL
ASO
ANTITERRORISM
ARABL
AOWC
AGRICULTURE
ALJAZEERA
AMTC
AFINM
AOCR
ABER
ARR
AFPK
ASSEMBLY
ASSK
AZE
AORCYM
AINR
AGMT
AEC
ACKM
APRC
AIN
ASCC
AFPREL
ASED
APERTH
ASFC
ASECTH
AFSA
AOMS
AORCO
ANTXON
ARC
AFAF
ADIP
AIAG
AFARI
AEMED
AORL
AX
ASECAF
AOPC
ASECAFIN
AFZAL
APCS
AMB
AGUIRRE
AEMRASECCASCKFLOMARRPRELPINRAMGTJMXL
AIT
ARCH
AMEX
ALI
AQ
ATFN
AMBASSADOR
AORCD
AVIATION
ARAS
AINFCY
ACBAQ
AOPR
AREP
ALEXANDER
ATRD
AEIR
AOIC
ABLDG
ASEX
AFR
ASCE
ATRA
ASEK
AER
ALOUNI
AMCT
AVERY
APR
AMAT
AEMRS
ASPA
AFU
AMG
ATPDEA
ALL
AECL
ACAO
ASECKFRDCVISKIRFPHUMSMIGEG
AORD
AFL
AME
ADM
ASECPHUM
AGIT
ABT
ASECVE
AGUILAR
AT
ABMC
ALZUGUREN
ANGEL
ASR
ANTONIO
BMGT
BEXP
BM
BG
BL
BA
BR
BTA
BO
BY
BBSR
BLUE
BK
BF
BTIO
BELLVIEW
BE
BU
BN
BH
BD
BC
BTC
BILAT
BT
BX
BRUSSELS
BP
BB
BRPA
BUSH
BURMA
BMENA
BESP
BIT
BBG
BGD
BMEAID
BAGHDAD
BEN
BIO
BMOT
BWC
BLUNT
BURNS
BUT
BGMT
BAIO
BCW
BOEHNER
BFIF
BOL
BASHAR
BIMSTEC
BOU
BIDEN
BZ
BFIN
BTRA
BI
BHUM
BOIKO
BERARDUCCI
BOUCHAIB
BORDER
BEXPC
BTIU
BTT
BIOS
BEXB
BGPGOV
BOND
BLR
CE
CG
CH
CVR
CASC
CU
CI
CD
CO
CDG
CB
CJAN
CPAS
COM
CVIS
CMGT
CT
CENTCOM
CNARC
CTERR
COUNTER
CHIEF
CDC
CTR
CBW
COUNTRY
CLEARANCE
CY
CA
CM
CS
CWC
CN
CITES
CF
CWG
CIVS
CFIS
CASCC
CROATIA
CONS
COUNTERTERRORISM
CASA
COE
CJ
CHR
CODEL
CR
CBC
CACS
CHERTOFF
CAS
CONTROL
CONDITIONS
CONDOLEEZZA
CITEL
CV
CLINTON
CHG
CZ
CON
CTBT
CEN
CRIMES
COMMERCE
CLOK
CRISTINA
CFED
CARC
CND
CTM
CARICOM
COUNTRYCLEARANCE
CBTH
CHINA
CSW
CICTE
CJUS
CYPRUS
CW
CAMBODIA
CENSUS
CIDA
CRIME
CBG
CBE
CMGMT
CAIO
CEC
CARSON
CPCTC
CEDAW
COMESA
CVIA
CWCM
CEA
COSI
CAPC
CGEN
COPUOS
CGOPRC
COETRD
CKGR
CFE
CQ
CITT
CIC
CARIB
CVIC
CLO
CAFTA
CVISU
CHRISTOPHER
CACM
CIAT
CDB
CIS
CUL
CHAO
CNC
CL
CSEP
COMMAND
CENTER
COL
CAN
CAJC
CUIS
CONSULAR
CLMT
CIA
CBSA
CEUDA
CAC
CROS
CIO
CPUOS
CKOR
CVPR
CONG
CONTROLS
CEPTER
CVISCMGTCASCKOCIASECPHUMSMIGKIRF
CDCE
DPOL
DEMARCHE
DHS
DR
DA
DISENGAGEMENT
DEMOCRATIC
DEFENSE
DJ
DY
DARFUR
DHRF
DEA
DTRO
DPRK
DO
DARFR
DOC
DRL
DK
DOJ
DTRA
DOMESTIC
DAC
DOD
DEAX
DIEZ
DEOC
DELTAVIOLENCE
DCOM
DMINE
DRC
DCG
DPKO
DOMESTICPOLITICS
DE
DB
DOT
DEPT
DOE
DHLAKAMA
DHSX
DS
DKEM
DAO
DCM
DANIEL
DEM
DAVID
DCRM
ETRD
EAGR
ETTC
EAID
ECON
EFIN
ECIN
EINV
ELAB
EAIR
ENRG
EPET
EWWT
ECPS
EIND
EMIN
ELTN
EC
ETMIN
EUC
EZ
ET
ELECTIONS
ENVR
EU
EUN
EG
EINT
ER
ECONOMICS
ES
EMS
ENIV
EEB
EN
ECE
ECOSOC
EK
ENVIRONMENT
EFIS
EI
EWT
ENGRD
ECPSN
EXIM
EIAD
ERIN
ECPC
EDEV
ENGY
ECTRD
EPA
ESTH
ECCT
EINVECON
ENGR
ERTD
EUR
EAP
EWWC
ELTD
EL
EXIMOPIC
EXTERNAL
ETRDEC
ESCAP
ECO
EGAD
ELNT
ECONOMIC
ENV
ETRN
EIAR
EUMEM
ENRGPARMOTRASENVKGHGPGOVECONTSPLEAID
EREL
ECOM
ECONETRDEAGRJA
ETCC
ETRG
ECONOMY
EMED
ETR
ENERG
EITC
EFINOECD
EURM
EENG
ERA
EXPORT
ENRD
ECONEINVETRDEFINELABETRDKTDBPGOVOPIC
EGEN
EBRD
EVIN
ETRAD
ECOWAS
EFTA
ECONETRDBESPAR
EGOVSY
EPIN
EID
ECONENRG
EDRC
ESENV
ETT
EB
ENER
ELTNSNAR
ECHEVARRIA
ETRC
EPIT
EDUC
ESA
EFI
ENRGY
ESCI
EE
EAIDXMXAXBXFFR
EETC
ECIP
EIAID
EIVN
EBEXP
ESTN
EING
EGOV
ETRA
EPETEIND
ELAN
ETRDGK
EAIDRW
ETRDEINVECINPGOVCS
EPEC
ENVI
ELN
EAG
EPCS
EPRT
EPTED
ETRB
EUM
EAIDS
EFIC
EFINECONEAIDUNGAGM
EAIDAR
ESF
EIDN
ELAM
EDU
EV
EAIDAF
ECN
EDA
EXBS
EINTECPS
ENRGTRGYETRDBEXPBTIOSZ
EPREL
EAC
EINVEFIN
ETA
EAGER
EINDIR
ECA
ECLAC
ELAP
EITI
EUCOM
ECONEFINETRDPGOVEAGRPTERKTFNKCRMEAID
EARG
ELDIN
EINVKSCA
ENNP
EFINECONCS
EFINTS
ECCP
ETC
EAIRASECCASCID
EINN
ETRP
EAIDNI
EFQ
ECOQKPKO
EGPHUM
EBUD
ECONEINVEFINPGOVIZ
ENERGY
ELB
EINDETRD
EMI
ECONEFIN
EIB
EURN
ETRDEINVTINTCS
EIN
EFIM
ETIO
ELAINE
EMN
EATO
EWTR
EIPR
EINVETC
ETTD
ETDR
EIQ
ECONCS
EPPD
ENRGIZ
EISL
ESPINOSA
ELEC
EAIG
ESLCO
EUREM
ENTG
ERD
EINVECONSENVCSJA
EEPET
EUNCH
ECINECONCS
ETRO
ETRDECONWTOCS
ECUN
EFND
EPECO
EAIRECONRP
ERGR
ETRDPGOV
ECPN
ENRGMO
EPWR
EET
EAIS
EAGRE
EDUARDO
EAGRRP
EAIDPHUMPRELUG
EICN
ECONQH
EVN
EGHG
ELBR
EINF
EAIDHO
EENV
ETEX
ERNG
ED
FR
FREEDOM
FINREF
FJ
FI
FRELIMO
FOREIGN
FAA
FETHI
FAS
FTAA
FRB
FAO
FCS
FINANCE
FWS
FTA
FEMA
FDA
FLU
FRANCISCO
FBI
FORCE
FO
FARC
FK
FT
FCSC
FAC
FM
FMGT
FINV
FCSCEG
FARM
FERNANDO
FINR
FIN
FINE
FIR
FDIC
FOR
FOI
FCUL
FKLU
FMLN
FISO
FIXED
GM
GMUS
GG
GR
GE
GAZA
GT
GH
GZ
GJ
GLOBAL
GV
GABY
GOI
GA
GCC
GB
GY
GATT
GC
GUAM
GEORGE
GTIP
GOV
GOMEZ
GUTIERREZ
GL
GKGIC
GF
GU
GWI
GARCIA
GTMO
GN
GANGS
GIPNC
GAERC
GREGG
GUILLERMO
GASPAR
GERARD
GI
HK
HR
HUMANR
HUMAN
HO
HA
HUMANRIGHTS
HU
HHS
HIV
HUM
HRKAWC
HILLEN
HILLARY
HDP
HUMRIT
HSTC
HUMANITARIAN
HCOPIL
HADLEY
HURI
HL
HRETRD
HOURANI
HG
HARRIET
HESHAM
HI
HNCHR
HARRY
HRECON
HRC
HOSTAGES
HEBRON
HUMOR
HSWG
HYMPSK
HECTOR
HN
HYDE
HUD
HRPGOV
HIGHLIGHTS
ID
ILC
IS
IZ
ICAO
IMO
ITU
IR
IAEA
ICRC
IPROP
IT
IBRD
ISRAELI
IRAQI
ISSUES
ITRA
IV
IO
IGAD
IRAQ
IN
IMF
ICTR
ISCON
IADB
IDB
IEA
INR
IWC
ICCAT
ILO
INMARSAT
IOM
ICJ
IQ
ISPA
ITRD
IPR
INTELSAT
ISN
IAHRC
INTERNAL
IFAD
IICA
IHO
IRAN
IL
IRCE
IC
INTELLECTUAL
IRM
IE
ICTY
IDLI
IFO
ISCA
INF
INL
ISRAEL
INV
IBB
INFLUENZA
ISPL
ITER
ITIA
INRA
ISAF
IACHR
INTERPOL
IFR
IRS
INRB
IEF
ISAAC
ICC
INDO
IIP
IATTC
INAUGURATION
IND
INS
IZPREL
IACI
IEFIN
INNP
ILAB
IA
IMTS
ITALY
ITALIAN
IFIN
IRAJ
IX
ICG
IF
ITPHUM
ITA
IP
IACW
IK
IUCN
IZEAID
IRPE
IDA
ISLAMISTS
ITF
INRO
IBET
IDP
IRC
ISO
ICES
IRMO
ITPGOV
IQNV
IMSO
IRDB
IMET
INCB
IFRC
JA
JO
JP
JM
JCIC
JOHN
JE
JEFFERY
JS
JUS
JN
JOHNNIE
JAMES
JKUS
JOSEPH
JML
JAWAD
JSRP
JIMENEZ
JOSE
JKJUS
JK
JAPAN
KMDR
KPAO
KPKO
KJUS
KCRM
KGHG
KFRD
KWMN
KDEM
KTFN
KHIV
KGIC
KIDE
KSCA
KNNP
KHUM
KIPR
KSUM
KISL
KIRF
KCOR
KRCM
KPAL
KWBG
KN
KS
KOMC
KSEP
KFLU
KPWR
KTIA
KSEO
KMPI
KHLS
KICC
KSTH
KMCA
KVPR
KPRM
KE
KU
KZ
KFLO
KSAF
KTIP
KTEX
KBCT
KOCI
KOLY
KOR
KAWC
KACT
KUNR
KTDB
KSTC
KLIG
KSKN
KNN
KCFE
KCIP
KGHA
KHDP
KPOW
KUNC
KDRL
KV
KPREL
KCRS
KPOL
KRVC
KRIM
KGIT
KWIR
KT
KIRC
KOMO
KRFD
KUWAIT
KG
KFIN
KSCI
KTFIN
KFTN
KGOV
KPRV
KSAC
KGIV
KCRIM
KPIR
KSOC
KBIO
KW
KGLB
KMWN
KPO
KFSC
KSEAO
KSTCPL
KSI
KPRP
KREC
KFPC
KUNH
KCSA
KMRS
KNDP
KR
KICCPUR
KPPAO
KCSY
KTBT
KCIS
KNEP
KFRDCVISCMGTCASCKOCIASECPHUMSMIGEG
KNNB
KGCC
KINR
KPOP
KMFO
KENV
KNAR
KVIR
KDRG
KDMR
KFCE
KNAO
KDEN
KGCN
KICA
KIMMITT
KMCC
KLFU
KMSG
KSEC
KUM
KCUL
KMNP
KSMT
KCOM
KOMCSG
KSPR
KPMI
KRAD
KIND
KCRP
KAUST
KWAWC
KTER
KCHG
KRDP
KPAS
KITA
KTSC
KPAOPREL
KWGB
KIRP
KJUST
KMIG
KLAB
KTFR
KSEI
KSTT
KAPO
KSTS
KLSO
KWNN
KPOA
KHSA
KNPP
KPAONZ
KBTS
KWWW
KY
KJRE
KPAOKMDRKE
KCRCM
KSCS
KWMNCI
KESO
KWUN
KPLS
KIIP
KEDEM
KPAOY
KRIF
KGICKS
KREF
KTRD
KFRDSOCIRO
KTAO
KJU
KWMNPHUMPRELKPAOZW
KEN
KO
KNEI
KEMR
KKIV
KEAI
KWAC
KRCIM
KWCI
KFIU
KWIC
KCORR
KOMS
KNNO
KPAI
KBWG
KTTB
KTBD
KTIALG
KILS
KFEM
KTDM
KESS
KNUC
KPA
KOMCCO
KCEM
KRCS
KWBGSY
KNPPIS
KNNPMNUC
KWN
KERG
KLTN
KALM
KCCP
KSUMPHUM
KREL
KGH
KLIP
KTLA
KAWK
KWMM
KVRP
KVRC
KAID
KSLG
KDEMK
KX
KIF
KNPR
KCFC
KFTFN
KTFM
KPDD
KCERS
KMOC
KDEMAF
KMEPI
KEMS
KDRM
KEPREL
KBTR
KEDU
KNP
KIRL
KNNR
KMPT
KISLPINR
KTPN
KA
KJUSTH
KPIN
KDEV
KTDD
KAKA
KFRP
KWNM
KTSD
KINL
KJUSKUNR
KWWMN
KECF
KWBC
KPRO
KVBL
KOM
KFRDKIRFCVISCMGTKOCIASECPHUMSMIGEG
KEDM
KFLD
KLPM
KRGY
KNNF
KICR
KIFR
KM
KWMNCS
KAWS
KLAP
KPAK
KDDG
KCGC
KID
KNSD
KMPF
KPFO
KDP
KCMR
KRMS
KNPT
KNNNP
KTIAPARM
KDTB
KNUP
KPGOV
KNAP
KNNC
KUK
KSRE
KREISLER
KIVP
KQ
KTIAEUN
KPALAOIS
KRM
KISLAO
KWM
KFLOA
LE
LU
LH
LA
LG
LO
LY
LANTERN
LI
LABOR
LORAN
LTTE
LT
LAS
LAB
LAW
LVPR
LARREA
LEBIK
LAURA
LS
LOTT
LOVE
LR
LEON
LAVIN
LGAT
LV
LAOS
LOG
LN
LB
MOPS
MO
MARR
ML
MASS
MZ
MR
MNUC
MX
MV
MCC
MY
MEDIA
MTCRE
MG
MCAP
MOPPS
MP
MI
MK
MC
MD
MA
MU
MASC
MW
MT
MEPP
MN
MTCR
MH
MEPI
MIL
MNUCPTEREZ
MMAR
MICHAEL
MUNC
MDC
MPOS
MONUC
MAR
MGMT
MAS
MEPN
MENDIETA
MARIA
MONTENEGRO
MOOPS
MSG
MARITIME
MURRAY
MUKASEY
MOTO
MCA
MFO
MEX
MRSEC
MMED
MACP
MAAR
MINUSTAH
MCCONNELL
MAPP
MGT
MARQUEZ
MANUEL
MNUR
MCCAIN
MF
MOHAMMAD
MOHAMED
MNU
MFA
MILITANTS
MINORITIES
MTS
MLS
MILI
MIAH
MEETINGS
MERCOSUR
MED
MARAD
MNVC
MINURSO
MNUCUN
MIK
MARK
MBM
MPP
MILITARY
MAPS
MNUK
MILA
MTRRE
MACEDONIA
MICHEL
MASSMNUC
MUCN
MQADHAFI
MPS
MARRGH
MRCRE
MTRE
MORALES
MAP
MCTRE
MHUC
MOPSGRPARM
MOROCCO
MCAPS
NL
NU
NS
NI
NPT
NATO
NO
NG
NATEU
NSF
NZ
NAS
NP
NDP
NLD
NGO
NEPAD
NAFTA
NASA
NEA
NGUYEN
NIH
NK
NIPP
NONE
NR
NANCY
NEGROPONTE
NRR
NERG
NSSP
NSG
NSFO
NE
NATSIOS
NFSO
NATIONAL
NTDB
NT
NCD
NTSB
NRC
NELSON
NAM
NH
NPG
NEC
NSC
NFATC
NMFS
NATOIRAQ
NAR
NZUS
NARC
NCCC
NA
NC
NEW
NRG
NUIN
NOVO
NATOPREL
NEY
NV
NICHOLAS
NPA
NW
NARCOTICS
NORAD
NOAA
NON
NTTC
NKNNP
NMNUC
NUMBERING
ODIP
OIIP
OPRC
OSCE
OREP
OTRA
OPET
OSCI
OVIP
OECD
OCII
OUALI
OPDC
OEXC
OFPD
OPIC
OFDP
OPCW
OECV
OAS
OM
OMIG
ODAG
OPREP
ORA
OIC
OEXCSCULKPAO
OIG
OASS
OFFICIALS
ORTA
OSAC
OIL
OIE
OEXP
OPEC
OPDAT
OMS
OES
OHI
OMAR
OCRA
OFSO
OCBD
OSTA
OAO
ONA
OTP
ORC
OAU
OXEC
OA
ODPC
OPDP
OVIPPRELUNGANU
OASC
OSHA
OPCD
OTR
OPPI
OPCR
OF
OFDPQIS
OSIC
OHUM
OSTRA
OASCC
OBSP
OFDA
OPICEAGR
OIM
OGAC
OTA
OTRAORP
OPPC
OESC
OCEA
OVP
ON
OPAD
OTAR
OCS
ODC
OTRD
OCED
OSD
ORUE
OREG
PHUM
PINR
PTER
PGOV
PREL
PREF
PL
PM
PHSA
PE
PARM
PINS
PK
PUNE
PO
PALESTINIAN
PU
PBTS
PROP
PTBS
POL
POLI
PA
PGOVZI
POLMIL
POLITICAL
PARTIES
POLM
PD
POLITICS
POLICY
PAS
PMIL
PINT
PNAT
PV
PKO
PPOL
PERSONS
PING
PBIO
PH
PETR
PARMS
PRES
PCON
PETERS
PRELBR
PT
PLAB
PP
PAK
PDEM
PKPA
PSOCI
PF
PLO
PTERM
PJUS
PSOE
PELOSI
PROPERTY
PGOVPREL
PARP
PRL
PNIR
PHUMKPAL
PG
PREZ
PGIC
PBOV
PAO
PKK
PROV
PHSAK
PHUMPREL
PROTECTION
PGOVBL
PSI
PRELPK
PGOVENRG
PUM
PRELKPKO
PATTY
PSOC
PRIVATIZATION
PRELSP
PGOVEAIDUKNOSWGMHUCANLLHFRSPITNZ
PMIG
PREC
PAIGH
PROG
PSHA
PARK
PETER
POG
PHUS
PPREL
PS
PTERPREL
PRELPGOV
POV
PKPO
PGOVECON
POUS
PGOVPRELPHUMPREFSMIGELABEAIDKCRMKWMN
PWBG
PMAR
PREM
PAR
PNR
PRELPGOVEAIDECONEINVBEXPSCULOIIPBTIO
PARMIR
PGOVGM
PHUH
PARTM
PN
PRE
PTE
PY
POLUN
PPEL
PDOV
PGOVSOCI
PIRF
PGOVPM
PBST
PRELEVU
PGOR
PBTSRU
PRM
PRELKPAOIZ
PGVO
PERL
PGOC
PAGR
PMIN
PHUMR
PVIP
PPD
PGV
PRAM
PINL
PKPAL
PTERE
PGOF
PINO
PHAS
PODC
PRHUM
PHUMA
PREO
PPA
PEPFAR
PGO
PRGOV
PAC
PRESL
PORG
PKFK
PEPR
PRELP
PREFA
PNG
PGOVPHUMKPAO
PRELECON
PINOCHET
PFOR
PGOVLO
PHUMBA
PRELC
PREK
PHUME
PHJM
POLINT
PGOVPZ
PGOVKCRM
PGOVE
PHALANAGE
PARTY
PECON
PEACE
PROCESS
PLN
PRELSW
PAHO
PEDRO
PRELA
PASS
PPAO
PGPV
PNUM
PCUL
PGGV
PSA
PGOVSMIGKCRMKWMNPHUMCVISKFRDCA
PGIV
PRFE
POGOV
PEL
PBT
PAMQ
PINF
PSEPC
POSTS
PHUMPGOV
PVOV
PHSAPREL
PROLIFERATION
PENA
PRELTBIOBA
PIN
PRELL
PGOVPTER
PHAM
PHYTRP
PTEL
PTERPGOV
PHARM
PROTESTS
PRELAF
PKBL
PRELKPAO
PKNP
PARMP
PHUML
PFOV
PERM
PUOS
PRELGOV
PHUMPTER
PARAGRAPH
PERURENA
PBTSEWWT
PCI
PETROL
PINSO
PINSCE
PQL
PEREZ
PBS
RS
REFUGEES
RW
RP
RELFREE
RO
REGIONAL
RIGHTS
REACTION
REPORT
RU
RENAMO
RIGHTSPOLMIL
REFORM
RM
REFUGEE
REL
RELATIONS
ROW
RREL
REGION
RATIFICATION
RBI
RICE
ROOD
RODENAS
RUIZ
RODHAM
ROBERT
RGY
ROY
REUBEN
RELIGIOUS
RUEHZO
RODRIGUEZ
RUEUN
RELAM
RSP
RF
RSO
RCMP
REO
ROSS
RPTS
RENE
REID
RUPREL
RMA
RI
REMON
RPEL
RFE
RFIN
RA
RAFAEL
RAY
RUS
RPREL
ROBERTG
RECIN
RAMONTEIJELO
SNAR
SP
SN
SMIG
SL
SOCI
SU
SG
SF
SENV
SZ
SOE
SCUL
SY
SO
SR
SYR
SE
SA
SW
SIPDIS
SCIENCE
SADC
SI
SCI
SOCIETY
SC
SAARC
STR
SECRETARY
SANC
SSH
ST
SNA
SGWI
SEP
SOCIS
SETTLEMENTS
SPECIALIST
SK
SHUM
START
STET
SCVL
SREF
SCHUL
SCUIL
SYRIA
SECURITY
SPCE
SYAI
SMIL
SOWGC
STEPHEN
SNRV
SKCA
SENSITIVE
SECI
SNAP
SPP
SCUD
SOM
SPECI
SMIGBG
SENC
SCRM
SGNV
SECTOR
SENVEAGREAIDTBIOECONSOCIXR
SENVSXE
SASIAIN
SACU
SENVSPL
SWMN
STEINBERG
SOPN
SOCR
SCOI
SCRS
SILVASANDE
SWE
SARS
SNARIZ
SUDAN
SENVQGR
SM
SNARKTFN
SAAD
SD
SAN
SIPRNET
STATE
SENS
SUBJECT
SFNV
SECSTATE
SSA
SPCVIS
SOI
SOFA
SCULKPAOECONTU
SPTER
SKSAF
SENVKGHG
SHI
SEVN
SANR
SPSTATE
SMITH
SCOM
SH
SNARCS
SNARN
SIPRS
SNARM
SIPDI
SCPR
SNIG
SELAB
SULLIVAN
SENVENV
SECDEF
SOLIC
SOIC
SPAS
SASC
SOSI
SEC
SEN
SENVCASCEAIDID
TU
TH
TW
TSPA
TRGY
TPHY
TBIO
TIFA
TS
TZ
TX
TSPL
TT
TK
TC
TINT
TERFIN
TERRORISM
TIP
TURKEY
TI
TECHNOLOGY
TNGD
TRSY
TRAFFICKING
TOPEC
TPSL
TP
TD
TR
TA
TIO
TREATY
TO
THPY
TECH
TRADE
TPSA
TG
TAGS
TF
TRAD
THKSJA
TVBIO
TNDG
TN
TBIOZK
TWI
TV
TWL
TRT
TWRO
TSRY
TTPGOV
TAUSCHER
TRBY
TRBIO
TL
TPKO
TIA
TGRY
TSPAM
TREL
TNAR
TBI
TFIN
TPHYPA
TWCH
THOMMA
THOMAS
TERROR
TRY
TBID
TPP
TE
THANH
TJ
TBKIO
UNGA
USUN
UN
UG
UNSC
UK
UP
US
UNCTAD
UNVIE
UNHRC
USTR
UNAMA
UNCRIME
UNESCO
UV
UNDP
UNHCR
UNCSD
UNCHR
UZ
USAID
UNEP
UNO
UNPUOS
UY
UNDC
UNCITRAL
UNAUS
UNCND
UA
UNMIK
USTDA
USEU
USDA
UNICEF
UR
UNFICYP
USNC
USTRRP
UNODC
UNRWA
UNOMIG
USTRPS
USAU
USCC
UNEF
UNGAPL
UNFPA
UNSCE
USSC
UGA
UEU
UNMIC
UNTAC
UNION
UNCLASSIFIED
USPS
UNA
UMIK
USOAS
UNMOVIC
UNFA
UNAIDS
UNCHC
USGS
UNSE
UNRCR
UNTERR
USG
UE
UAE
UNWRA
UNCSW
UNSCR
UNCHS
UNDESCO
UNPAR
UNC
UB
UNSCS
UKXG
UNGACG
UNREST
UNHR
USPTO
UNFCYP
USCG
UNIDROIT
UNSCD
UPU
UNBRO
UNECE
USTRUWR
UNCC
UNESCOSCULPRELPHUMKPALCUIRXFVEKV
VM
VE
VT
VETTING
VN
VZ
VIS
VC
VTPREL
VIP
VTEAID
VTEG
VOA
VA
VTIZ
VANG
VISIT
VO
VENZ
VAT
VI
VEPREL
VEN
WFP
WTO
WHO
WTRO
WBG
WMO
WIPO
WA
WI
WSIS
WHA
WCL
WE
WMN
WEBZ
WS
WAR
WZ
WMD
WW
WILLIAM
WEET
WAEMU
WM
WWBG
WWT
WWARD
WITH
WMDT
WTRQ
WCO
WEU
WALTER
WRTO
WB
WHTI
WBEG
WCI
WEF
WAKI
WHOA
WGC
Browse by classification
Community resources
courage is contagious
Viewing cable 09DHAKA301, BANGLADESH INVESTMENT CLIMATE STATEMENT
If you are new to these pages, please read an introduction on the structure of a cable as well as how to discuss them with others. See also the FAQs
Understanding cables
Every cable message consists of three parts:
- The top box shows each cables unique reference number, when and by whom it originally was sent, and what its initial classification was.
- The middle box contains the header information that is associated with the cable. It includes information about the receiver(s) as well as a general subject.
- The bottom box presents the body of the cable. The opening can contain a more specific subject, references to other cables (browse by origin to find them) or additional comment. This is followed by the main contents of the cable: a summary, a collection of specific topics and a comment section.
Discussing cables
If you find meaningful or important information in a cable, please link directly to its unique reference number. Linking to a specific paragraph in the body of a cable is also possible by copying the appropriate link (to be found at theparagraph symbol). Please mark messages for social networking services like Twitter with the hash tags #cablegate and a hash containing the reference ID e.g. #09DHAKA301.
| Reference ID | Created | Released | Classification | Origin |
|---|---|---|---|---|
| 09DHAKA301 | 2009-03-29 09:26 | 2011-08-25 00:00 | UNCLASSIFIED | Embassy Dhaka |
VZCZCXRO3034
RR RUEHAST RUEHBI RUEHCI RUEHDBU RUEHLH RUEHNEH RUEHPW
DE RUEHKA #0301/01 0880926
ZNR UUUUU ZZH
R 290926Z MAR 09
FM AMEMBASSY DHAKA
TO RUEHC/SECSTATE WASHDC 8501
INFO RUCNCLS/ALL SOUTH AND CENTRAL ASIA COLLECTIVE
RUCPDOC/DEPT OF COMMERCE WASHINGTON DC
RUEATRS/DEPT OF TREASURY WASHDC
RUCPDOC/USDOC WASHDC 1617
RHEHAAA/WHITE HOUSE WASHDC
UNCLAS SECTION 01 OF 11 DHAKA 000301
SIPDIS
DEPARTMENT/WHITE HOUSE PLEASE PASS USTR
NEW DELHI/KOLKATA FOR FCS
DEPARTMENT FOR EEB/IFD/OIA, NHATCHER AND GHICKS
E.O. 12958: N/A
TAGS: EINV EFIN ETRD ELAB KTDB PGOV OPIC USTR BG
SUBJECT: BANGLADESH INVESTMENT CLIMATE STATEMENT
REF: 08 STATE 123907
¶1. This is Embassy Dhaka's submission for reftel tasking.
¶2. Begin text of the 2009 Bangladesh Investment Climate Statement:
Openness to Foreign Investment
------------------------------
Bangladesh actively seeks foreign investment under its industrial
policy and export-oriented, private sector-led growth strategy.
Foreign and domestic private investors receive the same incentives.
These include: 100% ownership in most sectors; tax holidays; reduced
import duties on capital machinery and spares; duty-free imports for
100% exporters; and tax exemptions.
Foreign investors are generally able to meet the few existing
performance requirements. Exporters have access to customs bonded
warehouses. Foreign Investors can repatriate profits, which are
almost fully convertible. Discriminatory policies and regulations
exist but are not widespread. For example, licensing regulations
issued in 2006 governing freight forwarding agents impose higher
bonding and capital requirements on foreign-owned companies. The
licensing process specifies sharply different treatment of freight
forwarder/logistics companies that are 100% foreign owned, joint
ventures with less than 50% foreign owned, and 100% domestically
owned companies.
After nearly two years of emergency rule under a caretaker
government, generally free and fair elections took place on December
29, 2008. The Awami League (AL), one of Bangladesh's two largest
political parties, and it alliance partner, the Jatiya Party,
secured a landslide victory with 263 of a total 299 parliamentary
seats. The new government, led by Prime Minister Sheikh Hasina
Wazed, took office on January 6, 2009.
The AL, which earlier was in power from 1996 to 2001, faces a host
of challenges, including managing the impact of the global economic
crisis, fine-tuning monetary policy, encouraging investment flows,
and rebuilding infrastructure. The AL's election manifesto focused
on controlling inflation, addressing chronic energy and power
shortages, reducing poverty and promoting economic growth and human
development.
Economic targets: The AL hopes to lessen the impact of the economic
crisis by encouraging investment, retaining domestic demand, and
promoting export growth. Its target for GDP growth is 8% by 2013, up
from the current 6% growth level. Key focus areas include
agriculture, IT, textiles, food-processing, pharmaceutical, and
chemical products. The GOB will provide incentives to small and
medium industries. Other focus areas include reducing poverty, labor
policy reform, improved governance, better income tax collection.
Infrastructure development in the power sector: The AL has pledged
to carry out a 3-year power sector development program. This is
intended to increase generation to 7000MW by 2013, up from the
current 5000MW. The government plans to formulate a Coal Policy,
which would help encourage investment in that sector.
Economic implications of the election victory: The AL has abandoned
its socialist past and declared itself business-friendly. Its
landslide victory produced increased optimism for higher investment
inflows, improvements to infrastructure, and progress on poverty
alleviation. Set against the backdrop of slowing global growth and
weak institutions, the new government will face many obstacles and
political considerations may inhibit reforms.
Citi N.A. South Asia estimates GDP growth of 5% in FY10. This
factors in some slowing of export growth and a marginal increase in
remittances given lessening global demand for Bangladeshi labor.
The Foreign Private Investment (Promotion and Protection) Act, 1980,
the Industrial Policy Act of 2005, the Bangladesh Export Processing
Zones Authority Act of 1980, the Companies Act, 1994, and the
Telecommunications Act, 2001 are the major pieces of legislation
affecting investors. The GOB has gradually liberalized trade over
the past five years. Import duties and supplemental taxes remain
high and constitute the largest sources of government revenue.
The FY2009 budget proposals have addressed the structure of the
personal income tax and selective corporate tax rates. Mobile phone
operator companies will be charged a tax rate of 45 per cent unless
they convert to publicly traded companies. This is intended to
persuade the firms to enter the stock exchange and boost local
DHAKA 00000301 002 OF 011
equity markets. The government has decided to continue its tax
holiday scheme for certain industries established between 1 July,
2008 and 30 June, 2011. These include agro-processing, diamond
cutting, steel production from billet, jute industries, different
units of textile sector, underground rail, monorail, and telecom
infrastructure other than mobile phone. Extension of the tax rebate
facility to non-resident Bangladeshi investors may attract foreign
investment.
Registration with the Board of Investment (BOI) is the only prior
approval required for foreign direct investment (FDI). Registration
with the BOI is necessary to obtain benefits such as concessionary
duty rates for machinery imports or the ability to import items on
the "restricted list." The BOI also approves foreign loans and
technology remittances on behalf of the Bangladesh Bank (the
country's central bank). Government responsibility for dealing with
foreign investments is fragmented. BOI, frequently touted as a
one-stop shop for all investors, can only register investors in
industrial projects outside the export processing zones (EPZs) and
assist them with tax inquiries, land acquisition, utility hook-ups,
and incorporation. The corresponding EPZ authority is the
Bangladesh Export Processing Zones Authority (BEPZA). Investors in
infrastructure and natural resource sectors, including power,
mineral resources and telecommunications must seek approval from the
corresponding government ministries. Although the BOI is housed in
the Prime Minister's Office, regulatory and administrative powers
remain vested in the line ministries. The BOI has not proven to be
an effective advocate for foreign investors.
The Government is restructuring several state owned enterprises
(SOE) to enhance their efficiency. The efficiency of both
Chittagong and Mongla Ports has increased in recent times. The
Caretaker Government concluded agreements to transfer six land ports
to the private sector. Two of these have initiated operations on a
Build, Own and Transfer (BOT) basis. The Government has converted
Biman Bangladesh Airlines into a public limited company. The
Government has initiated legal reforms to simplify the land
registration process. While the budget contains proposals to reform
the SOE sector, these initiatives still face formidable challenges.
The Government has converted three Nationalized Commercial Banks
(NCB), Sonali, Janata and Agrani into public limited companies.
There are signs that government resistance to privatizing utilities
and opening critical sectors to full competition is starting to
change. Bangladesh allowed private investment in power generation
and natural gas exploration. Efforts to grant autonomy in petroleum
marketing and gas distribution have stalled, however.
In 2007, the Caretaker Government amended the International Long
Distance Telecommunication Services Policy 2007 to legalize voice
over internet protocols (VoIP). The first stage of the policy
involved international gateways (IGW) connected to submarine cable
and interconnection exchanges. The second stage would link
interconnection exchanges (ICX) to the international gateways and
access network service. In the final stage, the access network
service would provide direct services to customers. Under the
policy, the government would provide three licenses to the private
sector for VoIP. Two ICX licenses to private operators would be
awarded to operate national and international calls.
In February 2008, three local companies won bids with state-run
Bangladesh Telecommunications Company Limited (BTCL), formerly BTTB,
to set up international gateways to handle international phone calls
to and from Bangladesh. Along with IGWs, the Bangladesh
Telecommunication Regulatory Commission (BTRC) also awarded licenses
to two other local companies for interconnection exchange (ICX)
services.
BTCL has enjoyed a monopoly on international calls, handling 20
million minutes a day. Industry experts predict the entry of the new
companies would triple the $2 billion market.
Administrative approval for the production plan of a foreign owned
open-cast coal mine in northwest Bangladesh has been pending since
November 2005 due to local opposition and political pressure from a
private citizens' group. The immediate past caretaker government
finalized a draft coal policy. In its election manifesto, the AL
pledged to approve a coal policy.
According to central bank statistics, annual net foreign direct
investment (FDI) flows averaged $520.6 million from FY2002 to
FY2007, with inflows rising significantly in FY 2006 ($743 million)
and FY2007 ($760 million). However both local and foreign
investment fell in the last fiscal year (FY2008). According to a
DHAKA 00000301 003 OF 011
draft economic review of the Ministry of Finance, the net foreign
direct investment (FDI) in FY2008 was $604 million, while a Central
Bank provisional estimated it would be $650 million.
While foreign investment has declined, outward transfers of
FDI-related investment are also falling. In 2007, outward transfers
amounted to $705 million against a transfer of $466 million in
¶2006.
According to the Asian Development Bank (ADB), Bangladesh has not
been a major recipient of foreign direct investment (FDI) or foreign
portfolio investment. Thus, the potential disruption of FDI inflows
or the outflows of portfolio investment are not major concerns.
However, expected FDI inflows in the energy sector, which the
country urgently needs, could be affected in the near term as
investors exercise caution about any large investments. The
postponement of energy sector FDI will affect growth prospects given
the prevailing acute power and gas shortages.
Bangladesh has had three different governments since October 2006.
This has resulted in discontinuity in dealing with investment
proposals. For their part, foreign investors have been reluctant to
push projects due to a fear that decisions could be reversed
following subsequent changes of government.
FDI increased in FY05 as service sector foreign investors reinvested
their earnings. Such reinvestment declined in the last fiscal year,
which saw an increase in profit repatriation. Political
uncertainty, indecision over some major project proposals, and
infrastructure constraints contributed to a decrease in FDI.
Bangladesh Bank data shows that investors repatriated $175 million
in profit in 2001, while the figure was $195m in 2002, $355m in
2003, $338m in 2004 and $418m in 2005.
According to The United Nations Conference on Trade and Development
(UNCTAD) 'World Investment Report 2008', of Bangladesh's $666
million FDI flow in 2007, the textile industry received the highest
amount with $102 million, followed by telecom $89 million, trade and
commerce $93 million and the gas sector $71 million.
Investors complain that ministries require seemingly unnecessary
licenses and permissions. They also complain about law and order
problems, poor infrastructure, inadequate commercial laws and
courts, lack of contract sanctity, and policy instability. Policies
are frequently altered at the behest of special interests, and many
decisions are overturned when governments change. Authority and
responsibility for decisions lack transparency and government
decisions are frequently arbitrary. Corruption remains a serious
impediment to efficient business operations. In 2005, Transparency
International for the fifth year in a row ranked Bangladesh worst on
its Corruption Perception Index. Bangladesh's ranking improved
slightly in recent years, but the score achieved has remained steady
at 2.1.
To a lesser extent, difficulty in attracting foreign investment also
results from Bangladesh's image as an impoverished and undeveloped
country subject to frequent and devastating natural disasters.
Conversion and Transfer Policies
--------------------------------
The official currency of Bangladesh is the taka. The Bangladesh
Bank, the central bank of Bangladesh, does not fix the exchange rate
of the taka against foreign currencies. Individual banks set their
own buying and selling rates for foreign currency based on supply
and demand. The taka is almost fully convertible for current
account transactions, such as import trade and travel needs, but not
for capital account transactions, such as investing or currency
speculation. The Foreign Investment Act guarantees the right of
repatriation of invested capital, profits, capital gains, post-tax
dividends, and approved royalties and fees. The central bank's
exchange control regulations and the U.S.-Bangladesh Bilateral
Investment Treaty (entered into force in 1989) provide similar
investment transfer guarantees. In practice, foreign firms are able
to repatriate funds without much difficulty, provided the
appropriate documentation is in order. Foreign firms in joint
ventures, which are only able to remit profits in the form of
dividends, also report few difficulties. However, in some cases,
foreign firms' profit remittances have been delayed for over one
year pending tax clearance from the National Board of Revenue.
Although there is no specific restriction on repatriation of capital
gains in the Foreign Private Investment Act of 1980, one U.S. firm
was denied permission to repatriate gains on share sales. The Board
of Investment may need to approve repatriation of royalties and
DHAKA 00000301 004 OF 011
other technology transfer fees over 6% of sales.
Expropriation and Compensation
------------------------------
In the years immediately following independence in 1971, widespread
nationalization resulted in government ownership of over 90% of
fixed assets in the modern manufacturing sector, as well as all
banking and insurance interests, except those in foreign (but
non-Pakistani) hands. Domestically owned cotton textiles, jute, and
sugar manufacturing units, none of which were owned by foreigners,
were placed under government control. However, the Foreign
Investment Act of 1980 has forbidden nationalization or
expropriation without adequate compensation, and there have been no
instances of foreign property expropriation since the Foreign
Investment Act was passed.
Dispute Settlement
------------------
A fundamental impediment to investment in Bangladesh is a weak and
slow legal system in which the enforceability of contracts is
uncertain. The judicial system does not provide for interest to be
charged in tort judgments, and hence there is no penalty for
delaying proceedings. The immediate past caretaker government
initiated major reforms to address governance challenges. One
reform separated the country's judiciary from the executive. To
facilitate the functioning of an independent judiciary, the
Government created 4,273 posts for the judicial magistracy,
including 655 posts for judicial magistrates and 3,618 posts for
support staff. The new government has pledged to continue this
reform, but the legal separation of the judiciary from the executive
is insufficient to ensure justice. Reforms of other pillars of the
justice system including the police, courts, and legal profession
are necessary. It is widely acknowledged that corruption is a
serious problem in the lower courts, where cases are first brought.
At the appellate level, the outcome of commercial cases has usually
been determined on merit.
Bangladesh is a signatory to the International Convention for the
Settlement of Disputes (ICSID) and it acceded (on May 6, 1992) to
the United Nations Convention for the Recognition and Enforcement of
Foreign Arbitral Awards. Bangladesh is also a party to the South
Asia Association for Regional Cooperation (SAARC) Agreement for the
Establishment of an Arbitration Council, signed November 13, 2005,
which will establish a permanent alternative dispute resolution
center in one of the SAARC member countries. A provision of the
U.S.-Bangladesh Bilateral Investment Treaty permits submission of
investment disputes to ICSID for third-party settlement.
The ability of the Bangladeshi judicial system to enforce its own
awards is weak, and there is no reason to think enforcement of
foreign judgments would be stronger. The Bangladesh Export
Promotion Bureau is sometimes helpful in assisting in dispute
settlement of export-related transactions. Major Bangladeshi trade
and business associations can also be helpful in assisting in
transaction disputes.
Many laws affecting investment in Bangladesh are old and outdated.
Some of these laws have been amended, but many drafts of proposed
new legislation produced by ad hoc government committees are more
than ten years old and are themselves out of date. Resource
constraints in the Law Ministry are a major problem. The insolvency
laws, which apply mainly to individual insolvency, are not being
used because of a web of falsified assets and uncollectible
cross-indebtedness supporting insolvent banks and companies. A
Bankruptcy Act was enacted in 1997 but has been ineffective in
addressing the insolvency and cross-indebtedness problem of
borrowers. Companies have often dealt with legal issues by
including a clause in arbitration agreements that allows for one of
the parties to bring a dispute before another nation's court. This
practice is allowed under Bangladeshi law.
Shortcomings in accounting practices and the registration of real
property also hamper dispute settlement. With the exception of
those conducted by a few internationally affiliated accounting
firms, audits of balance sheets and profit and loss statements often
follow clients' instructions and fail to conform to international
standards. Documents affecting title to real property are often not
registered, complicating transfer of ownership and collateral
agreements.
Performance Requirements and Incentives
---------------------------------------
DHAKA 00000301 005 OF 011
The government's industrial policies emphasize manufacturing and
labor-intensive industries that use local inputs. There are a
variety of subsidies and other incentives provided to different
industrial sectors, primarily the export sectors and, to a lesser
extent, import substitution sectors. The government also provides
loans at concessionary rates through its nationalized banks and
government-owned development banks for exports, cottage industries,
and agriculture. These incentives are available to both domestic
and foreign investors.
To simplify the tariff structure and generate more revenue through
import duty in the FY2009 budget, the government proposed
transforming the previous (FY2008) three-tier customs duty
structure. The proposal calls for creating a four-tier structure by
reducing duty on capital machinery and spares, basic raw materials
and intermediate raw materials, and retaining the highest slab, for
finished products, at 25 percent. The government's fiscal year ends
June 30th. Experts believe that the new tariff structure would
benefit finished goods importers, who will now face lower tariff
incidence and may create an anti-domestic industry bias.
The government also provides a variety of tax incentives to selected
sectors of the economy, including:
-- A 50% rebate for taxable income generated from export earnings.
-- An exemption from income tax for export earnings from
handicrafts and cottage industries.
-- Tax holidays of four to six years, depending on location, for
new industrial enterprises in these sectors: textiles,
pharmaceuticals, melamine, plastic, ceramics, sanitary ware, iron
and steel industries, fertilizer, insecticide and pesticide,
computer hardware, petrochemicals, drug chemicals and pharmaceutical
raw materials, agricultural equipment, shipyard, boiler and
compressor, textile machineries, and infrastructure facilities. The
tax holiday is expected to be available up to 2011.
-- A 10-year tax holiday for enterprises in the EPZs
-- Accelerated depreciation for enterprises not eligible for a tax
holiday
-- Income tax exemption for 15 years for power projects
As of December 2008, the World Trade Organization did not show any
notifications alleging Bangladeshi violations of the Agreement on
Trade-Related Investment Measures.
Right to Private Ownership and Establishment
--------------------------------------------
Foreign and domestic private entities can establish and own,
operate, and dispose of interests in most types of business
enterprises. Four sectors, however, are reserved for government
investment:
arms and ammunition and other defense equipment and machinery
forest plantation and mechanized extraction within the bounds of
reserved forests
production of nuclear energy
security printing and mining
Protection of Property Rights
-----------------------------
Although land, whether for purchase or lease, is often critical for
investment and as security for loans, antiquated real property laws
guarantee chaos. Land registration records are unreliable. Parties
avoid registering mortgages, liens, and encumbrances because certain
stamp duties and charges have been set at high levels. Instruments
take effect from the date of execution, not the date of
registration, so a bona fide purchaser can never be certain of
title.
The government is progressing slowly in bringing its intellectual
property rights laws into compliance with the World Trade
Organization's Trade Related Aspects of Intellectual Property Rights
(TRIPS) Agreement. The government enacted a Copyright Law in July
2000, updating its copyright system and bringing the country's
copyright regime into compliance with TRIPS. The immediate past
caretaker government drafted legislation to implement its TRIPS
DHAKA 00000301 006 OF 011
obligations with respect to patents and design as well as
trademarks. The Amendment of Trademark Act 1940 is undergoing
inter-ministerial substantive review. The draft Patent and Design
Act is ready for legal review by the Ministry of Law and
Parliamentary Affairs.
These amendments are intended to bring the country's intellectual
property laws into full compliance with WTO TRIPS requirements.
Implementing regulations, however, must also be drafted.
The government allocates too few resources to intellectual property
rights (IPR) enforcement, and the IPR situation has deteriorate.
The prevention and punishment of IPR violations is very low compared
to the number of infringements. The government sets a poor example
by failing to account fully for software in its tenders. A number
of American firms, including film studios, manufacturers of consumer
goods, and software firms, have reported violations of their
intellectual property rights. Some commercial establishments have
adopted the trade name, trademarks and trade dress of U.S.
businesses without authorization. Bangladesh is a member of the
World Intellectual Property Organization (WIPO), and acceded to the
Paris Convention on Intellectual Property in 1991.
Transparency of Regulatory System
---------------------------------
Starting from a position of extreme over-regulation, the trend since
1989 has been a gradual decrease of governmental obstruction of
private business. Many regulatory changes, however, have not yet
been politically possible to implement. Although some civil
servants and ministers have displayed genuine commitment, reforms
face broad based resistance from many groups in the economy,
including influential members of the business community. The
official chambers of commerce include manufacturers in protected
industries and well-connected commission agents pursuing government
contracts. Chamber members call for a greater voice for the private
sector in government decisions and for privatization, but at the
same time many support protectionism and subsidies for their own
industries.
Policy and regulations in Bangladesh are often not clear,
consistent, or publicized. Generally, the civil service,
businesses, professionals, trade unions and political parties have
vested interests in a system in which confidentiality is used as an
excuse for lack of transparency, and in which patron-client
relationships are the norm. Businesses must always turn to civil
servants to get action, yet may not receive any, even with support
from higher political levels. Traditionally, the country's poorly
paid civil servants have regarded business people as exploitative,
and regard themselves as having a near monopoly on economic acumen
and patriotism. Accounts from foreign investors of solicitation of
bribes by public officials and politicians are common. Bangladesh's
donors regard public administration reforms as central to overall
economic reform.
In practice, government laws and regulations and their
implementation create distortions or impediments to investment.
Unhelpful treatment of businesses by some government officials,
coupled with other negatives in the investment climate, raise
startup and operational costs, add to risk, and tend to counteract
the government's praiseworthy investment incentives. There is
little opportunity for the private sector to comment on proposed
regulations.
Efficient Capital Markets and Portfolio Investment
------------------- ------------------------------
The Dhaka Stock Exchange (DSE) saw an increased amount of foreign
portfolio investment in the past two years (2008 & 2007) amid a
steady growth in the country's stock market. Foreign trade
turnover at the market, however, dropped to US$ 193.67 million in
2008 from the previous year's US$ 292.70 million, DSE statistics
show. According to the DSE statistics foreign trade turnover
accounted for 1.97 per cent of the total turnover at the DSE in
2008, while it was 6.16 per cent in 2007. Chittagong Stock Exchange
(CSE), the other bourse, also observed similar hikes in turnover and
prices. The overall stock markets experienced moderate declines in
early 2009.
Foreign investors showed increased interest in the country's stock
market as it attained significant growth in the last couple of
years. Infrastructural development over the years also attracted
foreign portfolio investors to the country's capital market.
However, experts believe the present volume of foreign investment in
Bangladesh is tiny compared to the market capitalization and such a
DHAKA 00000301 007 OF 011
volume of the foreign portfolio investment could not significantly
influence the market.
The shares of a number of state-owned enterprises (SoEs) and
government shares of various private companies are being off-loaded
to increase the supply of shares in the capital market. As part of
this process, shares of the nationalized Jamuna Oil Company Ltd. and
Meghna Oil Company Ltd. are already in the capital market and the
shares of Titas Gas Transmission and Distribution Company Ltd. are
in the process of being off-loaded. The immediate past caretaker
government approved the off-loading of government shares of 9 SoEs
in the power sector, 10 SoEs in the industries sector and 2
enterprises of the telecommunication sector. The immediate past
caretaker government also took steps to introduce a Book Building
System in the capital market to attract private companies having a
strong financial foundation.
Despite a recent surge in liquidity and turnover, the capital market
in Bangladesh remains thin compared with those of its regional peers
and the size of the economy. The market capitalization to GDP ratio
stands at 68% in India and 41% in Pakistan, far exceeding that of
Bangladesh. The depth of the equity market remains
shallow-vulnerable to overheating and price shocks; while the debt
market remains at an incipient stage, characterized by limited
listings and trading. An efficient bond market needs to encompass
resourceful primary and secondary markets, lucid rules and
regulations, well functioning settlement and custody systems,
reliable ratings, and benchmark yield curves.
Foreign investors have access to local credit markets, but many seek
offshore financing. If they finance locally, it is usually with a
foreign bank branch. Four state-owned banks, known as nationalized
commercial banks (NCBs), comprise a significant portion of the
banking sector's total assets. The largest NCB has assets totaling
approximately $4.6 billion. An estimated 30% of the country's total
asset base is non-performing, primarily because of long-outstanding
debts to the NCBs. The share of non-performing assets for private
commercial banks ranges from two to eleven percent. The World Bank
has approved a $250 million International Development Association
(IDA) soft loan to Bangladesh for an ongoing enterprise growth and
bank modernization project. As a part of the process, private
management teams from international consulting firms have been put
in charge of the four NCBs. One of the four is in the final stages
of privatization.
The Securities and Exchange Commission (SEC) was formed in 1993 to
regulate the DSE and CSE and protect investors. In 1997, the SEC
imposed new restrictions on the involvement of foreign investors in
the Bangladesh capital market. The guidelines stipulate that 10% of
primary issues are reserved for non-resident Bangladeshis. Major
foreign investors have protested these measures, claiming that these
measures exacerbate the market's greatest drawback: the difficulty
of buying or selling in volume over a reasonably short period. The
SEC and the Institute of Chartered Accountants of Bangladesh have
the task of enforcing reporting and audit requirements and bringing
those requirements up to international standards.
Political Violence
------------------
In the past, there have been incidents of politically directed
damage to foreign projects or installations. Following U.S.
military action in Iraq, a number of sizeable anti-American
demonstrations occurred (between 10,000 and 80,000 participants).
A few of these demonstrations resulted in minor property damage to
U.S.- affiliated businesses. Calls for boycotts of American goods
and services have had limited impact and ended within a few months.
Extortion of money from businesses by thugs claiming political
backing is common. Clashes between supporters of rival political
parties and their student and youth wings and even factions within
the same party occur regularly. General strikes and blockades
called by political parties affect businesses by keeping workers
away with the threat of violence and blocking transport, resulting
in productivity losses. Vehicles and other property are at risk
from vandalism or arson during such incidents, and looting of shops
has occurred.
Responding to public concern over law and order, the government in
March 2004 authorized a special elite force, known as the Rapid
Action Battalion (RAB) as part of its anti-crime initiative. The
RAB is comprised of members of the armed forces, the police, and the
Bangladesh Rifles and Ansars, both paramilitary groups. The RAB
became operational in June 2004 and has been credited by many
Bangladeshis with improving domestic law and order. Soon after its
DHAKA 00000301 008 OF 011
formation, however, the local media began reporting on
"cross-fires", a euphemism for extrajudicial killings, particularly
by the RAB. In 2006, 355 deaths of individuals in law enforcement
custody were reported, 290 of which were attributed to crossfire.
The RAB was involved in 181 crossfire deaths; members of the police
were involved in 100; other security forces were involved in nine
crossfire deaths. The number of crossfires has declined
considerably in recent months.
In February 2005 the government banned two extremist groups:
Jama'atul Mujahedin Bangladesh (JMB) and Jagroto Muslim Janata
Bangladesh (JMJB). On August 17, 2005, JMB, with the assistance of
JMJB, exploded several hundred small, improvised explosive devices
(IEDs) in a coordinated attack in 63 of the 64 districts of
Bangladesh. The devices were accompanied by leaflets demanding the
establishment of Islamic law in Bangladesh. From September to early
December 2005, JMB conducted several suicide attacks targeting local
judges, courts and district government facilities. The government
responded vigorously, arresting several high-ranking leaders of JMB
and recovering detonators, explosives and related materials used to
construct IEDs. As of December 2008, there had been no attacks by
extremist groups on foreign diplomatic, commercial or social
interests in Bangladesh.
Corruption
----------
Corruption has been the most telling indicator of poor governance in
Bangladesh for a long time. Off-the-record payments by firms result
in an annual loss of 2%-3% of GDP. The country scores poorly in
Transparency International's corruption perceptions index. However,
the immediate past caretaker Government's reform initiatives have
started to improve administrative efficiency in some areas. Public
services such as law enforcement agencies, power generation and
distribution, ports, and customs have turned around markedly.
The immediate past caretaker government had directly addressed the
culture of impunity that existed in Bangladesh by taking a tough
line on corruption. It showed political willingness to fight
corruption and to institute needed systemic reforms. The tough line
on corruption centers on reforms being carried out by the
Anticorruption Commission (ACC). In early 2007, to provide the
commission with a more vibrant leadership, the ACC was reconstituted
with three new commissioners, and was given added powers to fulfill
its functions.
The newly elected Awami League-led Grand Alliance has also
underlined the need for a strong anticorruption commission backed by
a long-term vision, strategy, and achievement of anticorruption
outcomes across sectors, institutions, and government. This
commitment remains to be seen, however, as many Awami League leaders
were implicated in corruption cases under previous governments.
Bilateral Investment Agreements
-------------------------------
The Foreign Investment Act includes a guarantee of national
treatment. National treatment is also provided in bilateral
treaties for the promotion and protection of foreign investment.
Treaties have been signed with the United States, Austria, Belgium,
Canada, China, Democratic Peoples Republic of Korea, France,
Germany, Indonesia, Iran, Italy, Japan, Malaysia, Pakistan,
Philippines, Poland, Republic of Korea, Romania, Switzerland,
Thailand, The Netherlands, Turkey, and the United Kingdom,
Uzbekistan. The U.S.-Bangladesh Bilateral Investment Treaty, signed
on March 12, 1986, entered into force on July 23, 1989.
A bilateral treaty between the United States and Bangladesh for the
avoidance of double taxation was signed on September 26, 2004 and
ratified by the United States on March 31, 2006. The parties
exchanged instruments of ratification on August 7, 2006. The treaty
has been effective for most taxpayers beginning in their 2007 tax
year.
OPIC and Other Investment Insurance Programs
------------------- ------------------------
The U.S. Overseas Private Investment Corporation provides insurance
coverage for some U.S. firms currently doing business in Bangladesh.
In recent years, authorities have been cooperative in approving
requests for OPIC insurance, and in one case, for a loan. OPIC and
the Bangladesh government signed an updated bilateral agreement in
May 1998. Bangladesh is a member of the Multilateral Investment
Guarantee Agency. The Export-Import Bank of the U.S. (ExIm Bank) is
an independent U.S. government agency that helps finance the
DHAKA 00000301 009 OF 011
overseas sales of U.S. goods and services. It provides export
credit insurance policies to cover political and commercial risk,
and loan guarantees to banks for medium and long-term loans. In
Bangladesh, only the Bangladesh Government is eligible for ExIm Bank
cover with a sovereign guarantee. The bank does not lend or provide
cover to private enterprises in Bangladesh purchasing U.S. exports
except in cases where ExIm Bank can provide a guarantee to enable a
private firm to buy U.S. products to construct a processing facility
whose output will be sold offshore for hard currency and such funds
can be captured offshore.
Labor
-----
Bangladesh has a population of about 150 million people. The labor
force is about 70 million people, with 63% working in the
agricultural sector, 11% in industry and the remaining 26% in the
services sector. Low official unemployment statistics obscure a
huge and growing under-employment problem in Bangladesh.
Bangladesh's comparative advantage in cheap labor for manufacturing
is partially offset by low productivity, due to low skills, poor
management, and inefficient infrastructure and machinery. Foreign
managers report that Bangladeshi workers generally respond well to
training.
Skilled Bangladeshis often seek and find employment in the Middle
East and East Asia at substantially higher wages than they would
receive in Bangladesh. Over the past 20 years, Bangladesh has
become a reliable source of labor. Expatriate workers remitted over
$7.9 billion in foreign exchange to Bangladesh in FY2008 through
official banking channels. Remittances have become an important
source of foreign exchange in recent years, and now exceed aid
provided in the form of concessionary loans and grants. However, in
early 2009 global economic uncertainty threatens to reduce the
volume of remittances returning to Bangladesh.
All employers are expected to comply with the government's labor
laws, which specify employment conditions, working hours, wage
levels, leave policies, health and sanitary conditions, and
compensation for injured workers. Freedom of association and the
right to join unions is guaranteed in the Bangladesh constitution.
There are over 6,400 registered trade unions in Bangladesh, with
over 1.9 million union members.
In July 2004, the Bangladesh parliament enacted a law granting
limited freedom of association rights in the export processing zones
(EPZs). Workers of the industrial units are allowed to form a
welfare council to develop and grow into organizations, defending
their welfare through collective bargains, according to the law. As
of December, 2008, workers are permitted to form unions at firms
located in the EPZs.
Bangladesh's labor unions, most of them associated with political
parties, can be militant. Violence and the threat of violence by
some trade unions have produced wage increases in excess of
productivity increases, raising unit labor costs. Worker layoffs,
or the mere threat of reductions-in-force, can be expected to cause
serious and confrontational labor disputes. Labor disputes do not
necessarily need to be heard before a legal court. Many companies
have found it effective to resolve issues before a Labor Tribunal.
Labor in private sector enterprises is mostly not unionized and
comparatively more productive. Productivity in Bangladesh has been
affected by 'hartals' (general strikes) called by political parties
and movements. These hartals, enforced by political activists,
essentially close down business throughout the country and raise the
cost of doing business in Bangladesh due to the downtime they impose
on commercial activity.
Bangladeshi laws do not uniformly prohibit the employment of
children or set a minimum age for employment. Numerous laws
prohibit child labor in certain sectors, ranging from transport
workers to tea plantation labor, but these have not addressed the
informal sectors, such as agriculture and domestic work, where the
majority of children are employed. As a result, child labor in
Bangladesh has historically been a fact of life. On July 4, 1995,
Bangladesh's garment exporters association signed a memorandum of
understanding (MOU) with the United Nations Children's Fund (UNICEF)
and the International Labor Organization (ILO) under which child
laborers in the EPZ textile factories were removed and enrolled in
education programs. ILO-assisted monitoring teams, which found
child laborers in 43% of EPZ factories in 1996, found fewer than 5%
in 2001. The MOU program has been phased out, and the U.S. Embassy
considers the project a success, with most child labor now
eradicated from the EPZs. Child labor laws outside of the EPZs are
not effectively enforced. Bangladesh, however, is working to comply
DHAKA 00000301 010 OF 011
with ILO conventions on child labor in an effort to eradicate child
labor in all sectors.
Foreign-Trade Zones/Free Ports
------------------------------
Under the Bangladesh Export Processing Zones Authority Act of 1980,
the government established an EPZ in Chittagong in 1983. Additional
EPZs now operate in Dhaka (Savar), Mongla, Ishwardi, Comilla, and
Uttara. In addition, two new EPZs are being established: Karnaphuli
EPZ (Chittagong) and Adamjee EPZ (Dhaka). A private EPZ has been
developed in Chittagong by a Korean investor and after prolonged
delays it received the licenses to operate in 2007.
Investments that are 100% foreign-owned, joint ventures and 100%
Bangladeshi-owned companies are all permitted to operate and enjoy
equal treatment in the EPZs. The country's EPZs have been extremely
successful in attracting investment, increasing employment, and
producing exports. Due to increased demand by investors, the
government has doubled the capacity of the Dhaka EPZ. Investors
seem generally satisfied, although there has been occasional labor
unrest associated with the introduction of workers associations in
the EPZs.
Approximately a dozen U.S. firms - mostly textile producers - are
currently operating in Bangladesh EPZs. South Korea is the largest
foreign investor in the Dhaka and Chittagong EPZs; Japan, Hong Kong,
Singapore, the United Kingdom, Sweden, Thailand, India, Malaysia,
Germany, Taiwan, China, U.A.E., France, Italy, Denmark, Panama and
Pakistan are the other foreign investors in the EPZs. The remaining
EPZ industries are Bangladeshi. The U.S. is the top destination of
exports from EPZs. Industries range from garments and textiles to
electronics, sporting goods, steel chains, and services (including
equipment leasing and container repairs and handling).
Foreign Direct Investment Statistics
------------------------------------
According to the United Nations Conference on Trade and Development
(UNCTAD) World Investment Report 2008, total inward foreign direct
investment to Bangladesh was $666 million in 2007, a 16% decrease
over figures for 2006 [$793]. Outward foreign direct investment
flows were negligible. UNCTAD estimates the stock of inward foreign
direct investment was $4.4 billion in 2007.
UNCTAD reports the following annual FDI inflows (in millions) for
Bangladesh:
1990-2000 (Annual Average)-$218 million
2004 - $460 million
2005 - $845 million
2006 - $793 million
2007-$666 million
According to UNCTAD, the stock of inward FDI was:
2000 - $3,848 million
2004 - $3,098 million
2006 - $4,189 million
2007 - $4,404 million
Figures from the Bangladesh Bank (the central bank) show total net
FDI flows (in millions) for the fiscal years 2002-2008 (ending June
30) as follows:
2003 - $376 million
30) as follows:
2003 - QQQQQ$376 million
2004 - $276 million
2005 -$800 million
2006 -$743 million
2007 - $793 million
2008 (provisional) - $650 million
Note: discrepancies with UNCTAD data reflect calendar year versus
fiscal year accounting. UNCTAD figures show FDI inflows; central
bank figures are for net FDI.
There are no reliable figures in Bangladesh on country-specific
stocks or flows of foreign direct investment. Studies by various
organizations rank the U.S. among the five largest foreign investors
in Bangladesh, together with Norway, Malaysia, Japan, and the United
Kingdom. The second tier of investors includes Singapore, India,
Thailand, Hong Kong, Germany, and South Korea. U.S. investment in
DHAKA 00000301 011 OF 011
Bangladesh includes power and energy companies, numerous
manufacturers, a life insurance company, banking operations of a
U.S. commercial bank, and various U.S. services and marketing
firms.
End text.
Moriarty
Moriarty